HOUSING STUDIES CHARITABLE TRUST
REGISTERED CHARITY No. 1095480
FINANCIAL REPORT FOR THE YEAR ENDED 31ST DECEMBER 2020
Azets Audit Services 3Mc Middlemarch Business Park Siskin Drive Coventry
HOUSING STUDIES CHARITABLE TRUST
TRUSTEES' REPORT FOR THE YEAR ENDED 31ST DECEMBER 2020
| Registered Charity Number | 1095480 |
|---|---|
| Trustees | |
| J. Flint | A. Murie |
| P. Kemp | D. Robinson |
| C. Leishman | A. Wallace |
| A. Marsh | P.Williams |
| M.Munro | |
| Correspondence Address | |
| 12 Southborough Close | |
| Surbiton | |
| Surrey | |
| KT6 6PU | |
| Accountants | |
| Azets Audit Services | |
| 3Mc Middlemarch Business Park | |
| Siskin Drive | |
| Coventry | |
| CV3 4FJ |
Bankers
Lloyds TSB 34 Aston Triangle Aston University Birmingham B4 7HZ
Objects of the Charity
To promote and disseminate research in the field of housing studies, through its publication ‘Housing Studies’ and other activities, to stimulate national and international debate on policies to improve housing provision
The Charity is governed by its Trust Deed dated 1st November 2002, superseded by a further deed issued in 2009.
HOUSING STUDIES CHARITABLE TRUST
TRUSTEES' REPORT FOR THE YEAR ENDED 31ST DECEMBER 2020
Review of Activities for the Period
Total editorial and royalty income from the publishers for 2020 was down on the previous year at £101,333. On the expenditure side, the main costs were, as previously, journal support plus the grants made by trustees.
Overall the accounts show a surplus of receipts over payments of £29,853. We have continued to delay opening a further fixed term deposit and as a consequence total cash and bank balances stood at a healthy £287,754.60 at the end of 2020.
No new trustees were appointed at the 2020 AGM. However, the Trustees plan to renew the memebrship over time and we can thus expect further change. With 9 trustees now in place we are well placed to do this.
The 5 year agreements with the Housing Studiees Association (HSA, for busaries) and the Chartered Institute of Housing (for support of the annual UK Housing Review) continued and are now in their fourth year. The HSCT funded seminar programme operated by the HSA came into operation in late 2019 but the second event in 2020 was delayed due to the Covid 19 outbreak and took place in August 2020. In late 2020 the HSCT agreed with the HSA that underspent HSCT funds could be repurposed - in this case supporting administrative support for HSA activities in 2021.
As noted in previous reports an increased budget for the editors of Housing Studies had been settled alongside a memorandum of understanding between the Trustees and the Editors regarding the respective roles of both parties in terms of the publication of the publication of the journal
In 2020 the absence of a physical meeting of the Housing Studies editorial board resulted in an underspend on the HSCT grant and discussion on how to deal with this is underwat at the time of writing.
As is evident from the above the pandemic did result in some rescheduling/reworking of grants previously agreed. The Trustees agreed to adopt a policy of flexibility so that grants could be rescheduled/repurposed - as long as they continued to meet the Trust's charitable objectives.
The Trustees reviewed the ‘Declaration of Trust’ which sets out the “rules” by which the HSCT operatesand after a review by our lawyers and the final version was settled at the 2020 AGM.
Alex Marsh was Chair of the HSCT in 2020 and Peter Williams, having announced he would stand down as secretary/treasurer after the 2021 AGM, continued in post. Trustees discussed Peter's potential replacement and after due consideration it was agreed that the core administrative function should be contracted out to a consultant alongside appointing two other trustees to replace him as Secretary and Treasurer respectively. Peter Kemp would take on the role of Secretary after the 2021 AGM and Christopher Leishman would become Treasurer. Peter Williams would remain a Trustee.
Alex and Peter maintained regular contact through the year with the other trustees , not least via virtual meetings. The annual return to the Charities Commission was submitted in acoordance with the requirements.
Signed on behalf of the Trustees
Alex Marsh
Chairman
Dated: 01/06/21
HOUSING STUDIES CHARITABLE TRUST
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES
OF THE HOUSING STUDIES CHARITABLE TRUST
I report on the accounts of the Housing Studies Charitable Trust for the year ended 31st December 2020 which are set out on pages 4 and 5.
Respective Responsibilities of trustees and examiner
As the trustees of the charity you are responsible for the preparation of the financial statements.
Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Basis of independent examiner's statement
My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fair view ' and the report is limited to those matters set out in the statements below.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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1 accounting records were not kept in respect of the charity as required by Section 386 of the 2006 Act; or
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2 the financial statements do not accord with those records; or
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3 the financial statements do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
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4 the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
Robert Anderson FCA Azets Audit Services 3Mc Middlemarch Business Park Siskin Drive Coventry CV3 4FJ
Dated:
HOUSING STUDIES CHARITABLE TRUST
REGISTERED CHARITY No. 1095480
STATEMENT OF ASSETS AND LIABILITIES FOR THE YEAR ENDED 31ST DECEMBER 2020
| CASH FUNDS Lloyds Current Account DEBTORS LIABILITIES |
2020 2019 £ £ 287,755 237,577 - 27,125 500 7,300 |
|---|---|
| SURPLUS OF ASSETS OVER LIABILITIES |
287,255 257,402 |
Approved by the Board of Trustees
a Peter Williams - Treasurer —— Dated:
HOUSING STUDIES CHARITABLE TRUST
REGISTERED CHARITY No. 1095480
RECEIPTS AND PAYMENTS ACCOUNT FOR THE YEAR ENDED 31ST DECEMBER 2020
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2020 2019
£ £ £ £
Operating Activities
Royalties received 44,518 43,434
Editorial expenses received 56,815 56,815
Editorial expenses refunded - Sheffield University 27,125
101,333 127,374
Investment Income
- -
Deposit account Interest
TOTAL RECEIPTS 101,333 127,374
Support Costs
Grants made
-
Housing Studies Association Bursaries 1,800
Housing Studies Association Seminars 10,000
Chartered Institute of Housing 10,000 5,000
Sheffield Hallam University - Housing Studies editorial support 61,000 57,043
Management and Administration Costs
-
Bank charges
Professional fees 480 1,760
AGM expenses 480 91 1,851
TOTAL PAYMENTS 71,480 75,694
SURPLUS OF RECEIPTS OVER PAYMENTS 29,853 51,680
Net assets at 1st January 2020 257,402 205,722
Net assets at at 31st December 2020 287,255 257,402
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